Mortgages

First Time Buyers Advice

First time buyers often need support with the mortgage process, including a detailed discussion surrounding monthly budget.

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Our First Time Buyers Advice

A first time buyer is defined as someone who has never purchased a property before.

Typically, a minimum of a 5% deposit is required to purchase a property in the UK. Some lenders offer more flexible lending criteria to First Time Buyers subject to qualification.  Nationwide’s Helping Hand mortgage is a good example, where you can borrow up to 5.5 x income subject to status.

Some lenders, on occasion will give added incentives to First time buyers such as cashback to help with legal fees or setting up home.

Feel free to get in touch via phone or email and one of our advisers will help you find the best mortgage deal to suit your personal circumstances.

Frequently Asked Questions

How much can I borrow? & What costs are involved in buying a house?

Typically, banks lend around 4.5 times the annual income showing on a mortgage application, although any unsecured debts i.e. credit cards, loans, car finance etc that you hold, can reduce the amount of borrowing available.  For a detailed report of exactly how much you can borrow please get in touch to discuss further.

First Time Buyers need to budget for legal fees, including stamp duty, valuation fees, moving fees, and mortgage arrangement fees, to work out how much these will total please contact us for further information.

Once a lender and product have been selected - What happens next?

Once a lender and product have been selected we are able to submit the application to the lender on your behalf, and progress the transaction until the application is offered.

This will save you a great deal of time and effort.

Your home may be repossessed if you do not keep up repayments on your mortgage

Genius Mortgage Advice

Why choose us?

We take the time to understand your requirements, find a way forward whatever the circumstances, and then stay the course until your mortgage is offered, and the transaction has completed.

We want to develop relationships with borrowers that last as long as your mortgage term, and are as wide as to include family and friends.

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